According to Department Of Industrial Policy & Promotion (DIPP), total FDI inflow in construction development sector (including townships, housing, built-up infrastructure) during April 2000 to September 2015 has been around $24.16 billion, which is about 9% of total FDI inflows into the country from April 2000 to September 2015. However, FDI in construction development sector has been on a decline over the past few years, reducing to $0.08 billion in April-September 2015 from $1.33 billion in the same period of 2012. To boost this cash-starved sector, the government last month removed all restrictions on size and minimum capitalisation restriction on foreign direct investments into the real estate and construction sector, except for a three-year lock-in period for select projects.
Source: ET Realty
Godrej makes a significant move in the market. They have, hopefully brought back a great energy and possibilities in the overall realty market. Realty firm Godrej Properties have sold 300 flats worth over Rs 700 Crore in just one week in its project at Vikhroli, Mumbai, even as the housing segment is facing huge demand slowdown. The central mixed use precinct, spread over 9.2 acres, will comprise of a 5-star luxury hotel, cultural buildings, luxury residential and a high street retail park. The more private luxury residential precinct spread across 6.7 acres, which was recently opened for sale, will house a community of residential buildings with private parks and an iconic clubhouse facility.
Ref: ZEE News
Online and digital media have been playing a crucial role in the realty market. Builders have started using e-commerce portals to reach out to the end user. Tata Housing is a prominent example. Tata Housing achieved India’s biggest sale thorough the online platform when it sold a villa at Myst for Rs 5.5 crore through its e-commerce portal. To date, the company has sold more than 50 units in the premium and luxury segment in 2014-15 through its ecommerce portal alone. They are still enforcing towards a digital strategy to tap the HNI & NRI.
Source: ET Realty
Vipul Limited, the leading real estate developer today announced its expansion in Delhi NCR with the launch of its new project Aarohan. Uniquely conceptualized and strategically located on the Golf Course Road, Gurgaon, Aarohan is spread across 19.245 acres of land. The new project will showcase 3 iconic towers with 4 apartments on each floor along with 5 spacious lift in each tower in phase-I. These 36 & 34 storey high iconic towers will have beautiful social hubs like Sky Hub set atop, these three tower Aarohan Retreat on ground level & Central Arena at the nucleus of this inspiring marvel. Aarohan is being built with an investment of Rs.1500 crore and company expects a realization value of Rs.3000 crore from it.
The starting ticket price of these spectacular apartments has been kept very competitive as Rs. 3 crore plus.